UPDATE 1-Canon may post Q1 operating profit of Y30 bln - Nikkei

April 23 (Reuters) - Japan's Canon Inc (7751.T: Cotización) is expected
to report an operating profit for the January-March quarter on
brisk sales of single-lens reflex cameras and a weak yen, the
Nikkei business daily reported without citing sources.

Canon is now likely to book a consolidated operating profit
of about 30 billion yen ($306.7 million), a drop of 82 percent
on the year, the paper said.

The better-than-expected results for the January-March
quarter will likely prompt Canon to upgrade its projection for
the full fiscal year through Dec. 31, the paper said.

The company, which uses U.S. accounting standards, is now
expected to forecast a 64 percent decline in operating profit
to about 180 billion yen -- roughly 20 billion yen higher than
its earlier projection, the report said.

For the fourth quarter, Canon, the world's largest digital
camera maker, had reported an 81 percent fall in profit and
predicted a further slide in annual profit to a 14-year low
this year, hit by slumping demand for cameras and office
equipment and a stronger yen.